United Kingdom retail sales fall in December

Quarterly sales from a year earlier held at growth of just 1%, the worst readings since May 2013.

That marked the biggest month-on-month fall since June 2016, the month Britons voted to leave the European Union, as well as the weakest December performance for seven years.

Meanwhile, excluding fuel, retail sales fell 1.6 per cent between November and December, against expectations of a 0.8 per cent fall, and down from a 1.1 per cent rise the month before.

He further added: "Retail sales continued to grow in the last three months of the year partly due to Black Friday deals boosting spending".

The research reveals that shopping for Christmas has shifted in recent years, from being mainly in December to more in November, as consumers seem to be starting their purchasing earlier in line with Black Friday promotions.

December Retail sales in the United Kingdom have dropped by 1.5 percent from November highlighting low consumer spending due to rising prices, revealed the Office for National Statistics (ONS) on Friday.

According to data from the Office for National Statistics (ONS), total average weekly household spending recovered to pre-financial crisis levels for the first time in the 12 months to the end of March 2017.

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But Rashidi believes that demand is still too high to suggest that more USA exports could hurt OPEC members' share of the market. However, rising oil prices may cast a shadow on some of these expectations, particularly on margins, according to analysts.

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